Clarification on PAN Allotment Post Conversion of Partnership Firm into LLP

[Buragala Sudheer]

Hi Everyone,

Greetings.

I seek your professional guidance regarding a recent conversion of a Partnership Firm into an LLP.

Upon reviewing the Certificate of Incorporation (COI) issued for the LLP, we observed that the PAN mentioned is the same as that of the erstwhile Partnership Firm. We request your confirmation on whether this is procedurally correct in case of such conversions, or if this may be an inadvertent error requiring rectification.

Further, we are in the process of opening a bank account for the LLP, and the bank has specifically requested the PAN of the LLP. In this context, kindly advise on the correct course of action.

Additionally, please note that all statutory registrations and records (including GST and other portals) are currently mapped to the Partnership Firm / partners’ PAN. Based on your guidance, we understand that these registrations may need to be surrendered or amended and fresh registrations obtained in the LLP’s name using the LLP PAN.

We request your confirmation and guidance on the above to ensure compliance with applicable laws and procedures.

Looking forward to your expert advice.

[CS NIMISH SAKHIYA]

Just file PAN Correction form and attach with that OLD PAN, COI of LLP and LLP Deed [should contain writing of conversion] 

You will receive a NEW PAN with an LLP name with the same PAN Number. Because of the Numbering system of PAN, LLP and Firm both have the same system.

Regarding other registration modifications, it depends on case to case. 

Warm Regards,

N. C. Sakhiya

Sakhiya & Co.

Practicing Company Secretaries

Office - 502, RK Empire, Opp. Sanskar Heights,

Nr. Mavdi Chowkdi, 150 Feet Ring Road,

Rajkot-360 004, Gujarat, India.

 

|Office   : +91 8200 55 1983 &  +91 98981 25141 |

|Personal: +91 88 6666 9301| 

|E-mail ID csnimis...@gmail.com |

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